How to Avoid What Dave Ramsey Calls the $483 Christmas Mistake

How to Avoid What Dave Ramsey Calls the $483 Christmas Mistake

It's not at all uncommon to close out the holiday season with some amount of credit card debt. In a recent blog post, Ramsey explained how some innocent holiday purchases could really add up to a large amount of interest. Assuming an interest rate of 17% and only making a $25 minimum payment, it would take that consumer five years to pay off their balance.